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22 Dec 98 The following e-mail exchange may be of intrest ...(reformatted ) SEE ALSO AndThenThey
To: "'Don Shuper'" <dshuper@halcyon.com
Cc: "Brown, Thomas J" <Thomas.Brown4@PSS.Boeing.com ,"Robinson, Pati"
<Pati.Robinson@PSS.Boeing.com
Subject: RE: Retire Notification
Date: Mon, 14 Dec 1998 19:09:12 -0800
Don,
I am forwarding your note to Tom Brown in our retirement office for consideration and response.
NBC
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From: Don Shuper
Sent: Monday, December 14, 1998 12:46 PM
To: nancy.b.cannon@boeing.com
Subject: Retire Notification
Ms. Nancy Cannon
The Boeing Company
Director of Benefits
From:Donald W Shuper
Subject: Notification to December Retirees of Credited Service Loss
The Summary Plan Document does not disclose that any hours in excess of 2000 for the calendar year are not counted for credited service.
I suggest the company immediately notify those who plan to retirethis month that in most cases, they will lose their entitlement to credited service for unused and accrued vacation.
Some have been told that they "must" work or "take vacation "until the end of the month to receive full credit.etc. That statement is also misleading and without foundation. The inability of your payroll department to handle retirement dates in mid-month is simply no excuse.
Your cooperation is requested.
Thank you Donald Shuper
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From: "Brown, Thomas J" <Thomas.Brown4@PSS.Boeing.com>
To: "'dshuper@halcyon.com'" <dshuper@halcyon.com>
Cc: "Cannon, Nancy B" <Nancy.Cannon@PSS.Boeing.com>
Subject: FW: Retire Notification
Date: Thu, 17 Dec 1998 16:39:02 -0800
Dear Mr. Shuper:
In my opinion the current Retirement Plan SPD adequately summarizes the provisions of the plan relating to credited service and hours of service. One should be able to conclude that only one year of credited service can be earned in any plan year...and, therefore, any hours in excess of 2,000 would not result in additional service credit. However, I have forwarded your e-mail message/suggestion to Don Mines and Bev Jones in the Retirement Office who are responsible for plan operational matters.
Regarding your comment on mid-month retirements, the Retirement Plan provides in Article 3 that all retirements will occur on the first day of a month (after satisfaction of retirement eligibility). This has nothing to do with our payroll department.
Regards,
Thomas J. Brown
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** On the first point about 2000 hrs/year - Mr. Brown may have a point - What do you think ?
Hours of Service Page 6-4 1996 Edition
If you are an hourly employee, a salaried non-exempt employee or a part-time employee, an hour of service is any hour for which you are paid. This includes actual overtime hours you work.
If you are a salaried exempt employee, you earn 45 hours of service for each payroll week in which you are paid or otherwise earn service.
During an approved leave of absence, you receive credit for the first 30 days of your leave. You also receive credit while on leave of absence for paid sick leave and vacations as if you had worked.
Credited Service Page 6-5 1996 Edition
Once you have satisfied the one-year waiting period, you begin earning credited service. One year of credited service is earned in each Plan year (January 1 to December 31) in which you have 2,000 or more hours of service. (A person working a regular 40-hour week is generally paid for 2,088 hours of service.)
If you have less than 2,000 hours of service, you will receive credit for part of a year. The credit you receive is determined by dividing the number of your actual hours of service by 2,000.
** *On the second point - Retirement Date - Close but no cigar ***
Question -- What does the following have to do with your last day of work being on the 5 th, 10, 15 th, or whenever. ?
Answer Nothing .
- From Doc 001_BOEW22A_96.doc - the current Plan document sent on request from the retirement office .
Article 1 Definitions - page 12
Para 1.38 " Retirement Date means the date a participant's monthly benefits begin in accordance with Article 3 .
Article 3 Retirement Date - page 18
Para 3.1 " A participant's Normal Retirement Date will be the first day of the month coincident with or next following the Participant' Normal Retirement Age. "
For Boeing response go to AndThenThey
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